Friday, October 31, 2008

Now where did I put that Pipeline Share ?

This blog is meant to be about Sharjah, but every so often I will take the chance to comment on something else.
Throughout my 20+ year career in the Oil and petrochemical Industry, I have learnt the more senior the boss you are briefing for a particular meeting, with another senior memeber of another company: the more succinct and detailed the documentation has to be.
When the meeting comes around and you are sitting in the background, one of 2 things happens: either the Bosses bluster about nothing (neither having read or adsorbed the briefings from the Underlings); or the other side raises an issue you haven't covered in the briefing and you squirm in the corner for forgetting it and take a bollo#king afterwards .
Imagine how the Underlings felt in this meeting:

ASTANA, Oct 30 (Reuters) - Kazakh President Nursultan Nazarbayev told Russian Premier Vladimir Putin on Thursday the two states should jointly buy Oman's share in a major pipeline only to hear that Russia might have already bought it alone. "Oman is a shareholder in CPC and we should buy (its stake). We should take 50 percent each so the others don't do it. It is very important," Nazarbayev told Putin during a meeting in the Kazakh capital of Astana. The proposal appeared to take Putin by surprise. "I'm not entirely sure, but it seems to me we have already bought it. I need to check," said Putin. Russia and Kazakhstan, the two governments with a stake in CPC, have first right of refusal on Oman's 7 percent stake in the consortium, the key export route for Kazakhstan's crude oil. Oman decided to sell its stake earlier this year but so far there has been no information on who may have bought it.


hattip Reuters

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